Yash Birla to invest Rs13,000-cr in energy, wellness in Andhra
13 Jan 2012
The Yash Birla group has signed an agreement with the Andhra Pradesh government for investing about Rs13,000 crore in three projects in the state covering wellness, sports infrastructure and energy.
Under the deal inked at the ongoing Partnership Summit 2012 in Hyderabad on Thursday after group chairman Yash Birla met Andhra Pradesh chief minister N Kiran Kumar Reddy, the group plans to set up a sports university in the state and an Ayurvedic village near Hyderabad.
It will also invest in polysilicon mining in the state as backward integration to its existing solar modules project.
The group proposes to invest Rs10,000 crore for a polysilicon plant by Power Solutions. The company will produce solar grade polysilicon, silicon wafers, solar photovoltaic cells, and solar photovoltaic panels at the plant, a company statement said.
Birla Edutech, a group company, would set up a sports university in about 450 acres to be allotted by the state government at an outlay of Rs2,000 crore.
"Our investment is part of Yash Birla Group plan to develop the sports sector in Andhra Pradesh. This will not only be the single largest investment made by the Yash Birla Group but will also boost sunrise sectors – alternative energy, healthcare and education in the state," Birla said.